Going through the threshold from 2017 to 2018, DBM endeavored to increase its engagement and by extension its visibility within the larger biotechnology community. Now entering Q4 of 2018, we sit down with DBM’s Head of Business Development, Matthew Redmann, Ph.D., to discuss DBM’s efforts up until this point and what is planned for the remaining part of the year and into 2019.
Q: Going into 2018, what have been your objectives from a business development perspective?
A: Discovery BioMed has historically developed and maintained substantive and fruitful relationships with our many clients and collaborators with groups spread across the globe – in the U.S., Europe, and Asia. However, due to the nature of the work, most of it is shielded behind non-disclosures, making it difficult to organically create momentum. In 2018 we sought to change that by adopting a more pro-active approach to marketing our services and building relationships.
Q: Given that key goal, what has been DBM’s strategy to achieve it?
A: A lot can be accomplished just by reaching out to people with similar research interests via email or phone. However, when it comes to building lasting relationships, the kind that we like to build with those we work with, there is no replacement for a face-to-face communication.
Acknowledging that fact, we wanted to increase engagement with the larger scientific community, whether industry or academic, by attending key events and listening to what problems researchers are currently facing and how our platforms might address those issues. Principally, as in years past, we attended BIO and participated in their One-on-One partnering sessions, which interestingly was awarded a Guinness World Record this year for the Largest Business Partnering Event. We enjoyed both the fruitful discussion we had there and being part of a record-breaking occasion. Moving from a general industry convention and taking a more specific approach, we also exhibited at PKD Connect in Kansas City, MO, which proved an excellent venue to interface both with PKD researchers and PKD patients.
Q: Do you think these efforts are paying off?
A: Through the aforementioned endeavors over this past year, the number of clients we have has increased by 100% and the amount of revenue we have generated in CRO services has increased by nearly 300% in 2018 when compared to 2017. We expect this growth to continue as we further refine our services, create new assays and further increase our visibility to those endeavoring to do ground-breaking research. So, from that perspective, the response we have received from the increased engagement has been encouraging.
Q: What other events are on the horizon?
A: Coming up imminently is ASN (American Society of Nephrology) Kidney Week in San Diego. It will be our first time there as a company and I know I’m particularly interested in seeing some cutting-edge research and discussing our 3D ADPKD platform as well. Beyond Kidney Week, we’ll be sending delegates to San Francisco in January for Biotech Showcase and to interface with the JPM Healthcare conference.
Q: Thank you for your time today. Any last items to add?
A: Pleasure was all mine. I would say, the best part of working at a boutique company is the varied types of conversations and experiences you get to have. For instance, while at PKD Connect in Kansas City, I found myself one minute talking to an industry researcher, and then the next talking to a patient advocate with the disease, discussing their struggle. The perspective this provides is immeasurable and really helps drive home the importance of the work we are trying to do, not only for PKD, but for Cystic Fibrosis and for our other disease areas.